CoinField’s Secret XRP Ledger Project Sologenic to Tokenize Stocks & ETFs

  • A project to facilitate mass adoption of cryptocurrency by allowing investment in stocks
  • Sologenic: Solo coin, XRPL-based DEX, Crypto Cards

Cryptocurrency exchange CoinField has finally revealed the details of its “secret” XRPL project, Sologenic. This ecosystem facilitates the trading of on-demand tokenized assets including stocks and ETFs from over 25 global stock exchanges or fiat backed stablecoins on top of the XRP Ledger.

As such, stocks like Tesla and Apple will be tradable on the XRP Ledger (XRPL).

“This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!” said Bob Ras, CoinField CEO.

Upcoming Projects: XRPL-based DEX and Crypto Cards

The exchange will leverage its Solo (Ƨ) coin, paired with fiat with third-party brokerage firms, to settle to bridge the crypto assets and stocks. For instance, USD would become USDƨ and Tesla shares would be converted to TSLAƨ, a tokenized stablecoin version of TSLA.

These crypto assets will be tradable against Solo and XRP on CoinField exchange and XRPL DEX. The decentralized exchange is one of its “most exciting” upcoming projects that is built on top of XRP Ledger enabling users to trade issued tokenized assets for XRP or SOLO.

Crypto Cards is another of its upcoming project that will allow the holders to spend their cryptos instantly anywhere in the world.

Coming in 2020

Launched in February 2018, CoinField enables trading against six fiat currencies. The Canada-based platform is currently in the process of transferring its headquarters to Spain.

Just last week the exchange launched an XRP validator and joined Ripple’s “Unique Node List” of trusted tier-one validators on the network. CoinField partnered with the founder of XRPL Labs Wietse Wind, online banking firm Cashaa, and top security legal firms to build the project Sologenic that has been in development for the past six months.

While the SOLO token will be released in December 2019 followed by VIP Pre-sale, it will officially launched in Q1 with a public IEO.

Crypto Cards will be introduced in late Q1 while decentralized exchange will be launched in Q2 2020. But users have to wait until later in the year to trade securities on the platform.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Mercedes-Benz Parent, Daimler AG, Pilots PoC Supply Chain Data Sharing System with Ocean Protocol

Daimler AG, the Mercedes Benz carmaker, has partnered with the decentralized data-sharing platform - Ocean Protocol. The partnership would help the Daimler to store their...

Insufficient Clarity for Regulations And Taxes May Force US Investors Move On: Coinbase Tax VP

The Chief Tax Officer of Coinbase, Lawrence Zlatkin, believes that lack of clarity in the US' crypto taxes could alienate prospective investors. He shared...

Chinese Ride-Hailing Unicorn, Didi Chuxing, to Pilot Digital Yuan; First Mass Scale Use of DCEP

China's 'Uber,' Didi Chuxing, will test run the digital yuan according to an announcement on July 8. The Chinese ride-hailing unicorn has over 500...

Kyber Network Makes DeFi Debut Following a Protocol Upgrade and KyberDAO Mainnet Launch

Kyber Network has launched a protocol upgrade dubbed 'Katalyst' alongside Kyber DAO on the Ethereum mainnet as per a blog post yesterday by the...

Stablecoins Yet Again Under Regulatory Scrutiny In Revised FATF Report: They’re “Better Placed To Achieve Mass-Adoption”

In a Tuesday report, the Financial Action Task Force, with members from about 200 countries, said stablecoins need to comply with standards to guard...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today